Black Jack

Serving with excellence

Fair Market Valuation of Unquoted Equity Shares – IT Act

Notification No. 61 /2017/F. No. 149/136/2014-TPL This shall come into force from the 1st day of April, 2018 and shall apply in relation to assessment year 2018-19 and subsequent years. As per amendment in Rule 11UA(1)(c)(b), Value of unquoted equity shares... Continue Reading →


Transitional Provisions – GST

Section 139 of GST – Migration of existing taxpayers (1) On and from the appointed day, every person registered under any of the existing laws and having a valid Permanent Account Number shall be issued a certificate of registration on... Continue Reading →

GST – Offences and Penalties

Section 122 of GST – Penalty for certain offences (1) Where a taxable person who – (i) supplies any goods or services or both without issue of any invoice or issues an incorrect or false invoice with regard to any... Continue Reading →

GST – Appeals and Revisions

Section 107 of GST – Appeals to Appellate Authority (1) Any person aggrieved by any decision or order passed under this Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act by... Continue Reading →

GST – Advance Ruling

Section 97 of GST – Application for advance ruling (1) An applicant desirous of obtaining an advance ruling under this Chapter may make an application in such form and manner and accompanied by such fee as may be prescribed, stating... Continue Reading →

GST Liability of Directors, Partners etc.

Section 89 of GST – Liability of directors of private company (1) Notwithstanding anything contained in the Companies Act, 2013, where any tax, interest or penalty due from a private company in respect of any supply of goods or services... Continue Reading →

GST Liability in case of company in liquidation

Section 88 of GST – Liability in case of company in liquidation (1) When any company is being wound up whether under the orders of a court or Tribunal or otherwise, every person appointed as receiver of any assets of... Continue Reading →

GST Liability in case of amalgamation or merger of companies

Section 87 of GST – Liability in case of amalgamation or merger of companies (1) When two or more companies are amalgamated or merged in pursuance of an order of court or of Tribunal or otherwise and the order is... Continue Reading →

Liability of agent and principal – GST

Section 86 of GST – Liability of agent and principal Where an agent supplies or receives any taxable goods on behalf of his principal, such agent and his principal shall, jointly and severally, be liable to pay the tax payable... Continue Reading →

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